Recent content by MorkandMindy

Corruption produces big profits, and big profits pay hefty bribes to propagate further corruption. Private Health Insurance has spread across the United States, is one of several entities controlling the government, and is now spreading into Britain. Stephen Fry explains how big the problem...

Inflation Andrew Yang's UBI is transfer-and-spend and therefore is noninflationary. The source of funding for Yang's UBI is the automation dividend which comes from decreases in production costs. Decreased production costs lead to price reductions which are deflationary. Therefore overall, a...

There is a new source of money - savings produced by automation. The fairly obvious idea is to move those savings to compensate for the salaries and wages lost due to automation.

What worked in the 1930s and 1940s was taxing the rich and then using the money to employ those who were unemployed. It worked very well, and the US was still a wealthy and successful nation two and a half decades after WW2. It was 'tax and spend,' and it worked. But there is a new...

The factors favoring UBI will increase as: 1. Automation continues so there is an ever growing amount of money available to fund the UBI 2. Other countries find UBI works out well 3. Some billionaires decide instead of pushing Bernie Sanders and now Andrew Yang out of the way and just looting...

Not that UBI will necessarily arrive. With about twice as many people in the workforce as there are jobs, the current system keeps pay rates down, and ensures there are always surplus people ready to fill in for any who leave or go on strike. Allowing people of marginal value at present to...

Only after UBI has arrived will people see the value of the scheme. Among the first to benefit would be the lowest paid young mothers who get little financial benefit from going to work and leaving their children in paid child care. In the pre-COVID days, I saw huge lines of MPVs with mothers...

You are right that there are other reasons. Keeping politicians' reputations and directing money to the companies which fund the lobbyists are two more good reasons. Another reason is to keep the official unemployment figures as low as possible. Dump two million unnecessary administrators out...

The immense complexity of the welfare programs is not there to please welfare recipients but to please the enormous number of administrators in the welfare programs. It is essential to reassure them that even though they will do nothing useful, their jobs will still be there. Otherwise, a...

We are progressing to where there will be just one robot, and it will do everything.

The US economy is designed for profit and not for people.

That is a pretty good plan, but I think there could be some drawbacks: 1. The nature of work keeps changing so those mentally unable to succeed at present-day work might be exactly the people who succeed in the future. 2. Killing everyone with for example a below-average income is a kind of...

Source and Destination The name Universal Basic Income relates to the delivery end of the money transfer. An alternative name 'Automation Dividend' names the same transfer but from the source end of the money transfer. UBI vs the current guaranteed minimum income type welfare plans I think...

The plan backed by Andrew Yang is to transfer a portion of the money saved by automation to a UBI (universal basic income) fund, from which it is distributed to everyone living in the country, initially at a rate of 1,000 dollars per person over 18, and a lower amount for those under 18.

The effect of automation at present is to replace workers with machines so that money which was paid to workers now goes to people and companies supplying automation with the money saved kept by the company owners. Automation is visible in the 'jobless recoveries' we have had in recent years...